GMAT Quant Chapter 11: Percent Word Problems

Question 1

How do we calculate X is what percent of Y?
(Translate into formula)

Answer 1

X/Y * 100

Question 2

How do we calculate a percent of A is equal to C?
(Translate into words)

Answer 2

A/100 * B = C

Question 3

Translate reduce the price by 20% into words.

Answer 3

Final Value =
Initial Value *
(1-20 /100) -> 0.8

Question 4

Translate increase the price by 30% into words.

Answer 4

Final Value = Initial Value * (1 + 30/100)

Question 5

What operation should we use to calculate successive percent changes?

Answer 5

Multiplication.

Question 6

How does the operation of returning a discounted figure back to its original value vary from the original discounted operation?

Answer 6

We must increase the discounted value by a greater percentage than the percent by which it was discounted.

Question 7

How does the operation of reverting a marked up value differ from the initial operation of marking it up?

Answer 7

The percentage decrease will be smaller than the initial percentage increase.

Question 8

How do we express profit as a percentage of cost?

Answer 8

Profit / Cost
*
100